Hello peeps
Hope you all can give me your opinion to ease my stress :)
Our offer on a house have just been accepted and is currently going through application with a broker who recommended Nationwide because of there rates, our status are as follow:
Salary - Myself £32500 my wife £32500
Occupation: company directors
Accounts: 1 full year on ltd company accounts and one due next month also we have 2 years accounts for the partnership before going limited profit increase every year.
Mortgage:
We have a buy to let on a joint mortgage contracted as interest only at £301 per month but have been paying £900 per month as overpayment rental income is £600pm LTV 75%.
I have a mortgage on my own name contracted to pay £254 interest only mortgage but have been paying £1071 per month as overpayment we will be renting this out when we move to the property rental potential £500pm
House:
Owner accepted offer of £235K we have a deposit of £36k which is 15%
Credit history:
Mine is good but notice my brother is linked to me and do not know why when we have no financial connection he has a poor credit history where as mine is excellent with good history of credit so would this cause a problem?
My wife has a good credit history similar to mine and we are both on the electoral roll for 2 years now.
Base on the information above would it be likely i can get a mortgage with Nationwide? as we have been doing a a lot of counter offer with the owner as he accepted an offer of £227k but only with a handshake where he should have did it through estate agent as we was waiting to hear about our offer so we had to go for asking price to get his mind changed, we don't want to feel embarrassed if we ended up having our application rejected.
Hope you all can give me your opinion to ease my stress :)
Our offer on a house have just been accepted and is currently going through application with a broker who recommended Nationwide because of there rates, our status are as follow:
Salary - Myself £32500 my wife £32500
Occupation: company directors
Accounts: 1 full year on ltd company accounts and one due next month also we have 2 years accounts for the partnership before going limited profit increase every year.
Mortgage:
We have a buy to let on a joint mortgage contracted as interest only at £301 per month but have been paying £900 per month as overpayment rental income is £600pm LTV 75%.
I have a mortgage on my own name contracted to pay £254 interest only mortgage but have been paying £1071 per month as overpayment we will be renting this out when we move to the property rental potential £500pm
House:
Owner accepted offer of £235K we have a deposit of £36k which is 15%
Credit history:
Mine is good but notice my brother is linked to me and do not know why when we have no financial connection he has a poor credit history where as mine is excellent with good history of credit so would this cause a problem?
My wife has a good credit history similar to mine and we are both on the electoral roll for 2 years now.
Base on the information above would it be likely i can get a mortgage with Nationwide? as we have been doing a a lot of counter offer with the owner as he accepted an offer of £227k but only with a handshake where he should have did it through estate agent as we was waiting to hear about our offer so we had to go for asking price to get his mind changed, we don't want to feel embarrassed if we ended up having our application rejected.